Published on 1/30/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3 million digital plus barrier notes linked to Wynn Resorts
By Susanna Moon
Chicago, Jan. 30 – Royal Bank of Canada priced $3 million of 0% digital plus barrier notes due July 26, 2019 linked to Wynn Resorts, Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above its 80% barrier level, the payout at maturity will be the greater of $1,150 for each $1,000 principal amount and any gain up to a maximum return of 26.65%.
Otherwise, the payout will be a number of Wynn shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Digital plus barrier notes
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Underlying stock: | Wynn Resorts, Ltd. (Symbol: WYNN)
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Amount: | $3 million
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Maturity: | July 26, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock finishes at or above 80% barrier, par plus greater of 15% and any gain capped at 26.65%; otherwise, 5.0093 Wynn shares
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Initial share price: | $199.63
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Barrier level: | $159.70, 80% of initial share price
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Pricing date: | Jan. 23
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Settlement date: | Jan. 25
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78013GFP5
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